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September 10, 2009

Treasury Foresees “Millions of Foreclosures”
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New figures show just 12 percent of eligible homeowners have had their
mortgages restructured under the Obama administration’s housing rescue
program. The Treasury Department says the figure has slightly improved
since July’s assistance rate of nine percent. But the Treasury says it
expects “millions of foreclosures” even if the loan modification program
becomes a total success.



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